Jeweller Pandora has announced it will switch from using silver in some of its ranges to platinum-plating following a dramatic increase in prices over the past year.
Silver prices have more than doubled within the last 12 months, leading Pandora to reduce its silver goods to around 20% of its total inventory, down from its current 60% business share. Chief executive Berta de Pablos-Barbier stated the move aims to decouple the firm from silver market volatility.
While platinum is more expensive per ounce, Pandora plans to plate the precious metal over a cheaper alloy. The company assured consumers that the final retail price for these pieces would remain consistent with its current silver collection.
Jewellery historian Vivienne Becker described the move as “clever marketing,” noting that platinum carries an elite image that appeals to upmarket consumers, especially as high gold prices drive interest toward white metals.
Pandora’s insights reveal that consumers regard platinum as the second most precious white metal after solid white gold. A curated selection of platinum-plated best-sellers will debut in Northern Europe before a global rollout in the second half of 2026.
The company aims to complete the transition to platinum plating by 2028. Silver prices hit record highs of over $100 per ounce in January and remain elevated, impacting the firm’s recent earnings.
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